XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Investments (Tables) | 9 Months Ended
--- | ---
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract] |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Investments Investments consist of the following (in thousands):
| December 31, 2016 |  | April 2, 2016
Available-for-sale investment securities | $ | 25,236 |  |  | $ | 24,247 |
Non-marketable equity investments | 15,788 |  |  | 14,841 |
| $ | 41,024 |  |  | $ | 39,088 |
The following tables summarize the Company's available-for-sale investment securities, gross unrealized gains and losses and fair value, aggregated by investment category (in thousands):
| December 31, 2016
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Treasury and government debt securities | $ | 650 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 649 |
Residential mortgage-backed securities | 5,859 |  |  | 5 |  |  | (90 | ) |  | 5,774 |
State and political subdivision debt securities | 7,209 |  |  | 139 |  |  | (120 | ) |  | 7,228 |
Corporate debt securities | 1,703 |  |  | 3 |  |  | (29 | ) |  | 1,677 |
Marketable equity securities | 4,995 |  |  | 4,046 |  |  | (133 | ) |  | 8,908 |
Certificates of deposit | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
| $ | 21,416 |  |  | $ | 4,193 |  |  | $ | (373 | ) |  | $ | 25,236 |
| April 2, 2016
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Treasury and government debt securities | $ | 1,002 |  |  | $ | — |  |  | $ | (3 | ) |  | $ | 999 |
Residential mortgage-backed securities | 5,866 |  |  | 13 |  |  | (60 | ) |  | 5,819 |
State and political subdivision debt securities | 7,231 |  |  | 239 |  |  | (49 | ) |  | 7,421 |
Corporate debt securities | 1,166 |  |  | 4 |  |  | (6 | ) |  | 1,164 |
Marketable equity securities | 5,882 |  |  | 2,374 |  |  | (412 | ) |  | 7,844 |
Certificates of deposit | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
| $ | 22,147 |  |  | $ | 2,630 |  |  | $ | (530 | ) |  | $ | 24,247 |
The following tables show the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
| December 31, 2016
| Less than 12 Months |  | 12 Months or Longer |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury and government debt securities | $ | 349 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 349 |  |  | $ | (1 | )
Residential mortgage-backed securities | 3,660 |  |  | (47 | ) |  | 1,570 |  |  | (43 | ) |  | 5,230 |  |  | (90 | )
State and political subdivision debt securities | 2,657 |  |  | (41 | ) |  | 2,092 |  |  | (79 | ) |  | 4,749 |  |  | (120 | )
Corporate debt securities | 1,422 |  |  | (29 | ) |  | — |  |  | — |  |  | 1,422 |  |  | (29 | )
Marketable equity securities | 792 |  |  | (65 | ) |  | 304 |  |  | (68 | ) |  | 1,096 |  |  | (133 | )
| $ | 8,880 |  |  | $ | (183 | ) |  | $ | 3,966 |  |  | $ | (190 | ) |  | $ | 12,846 |  |  | $ | (373 | )
| April 2, 2016
| Less than 12 Months |  | 12 Months or Longer |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury and government debt securities | $ | — |  |  | $ | — |  |  | $ | 699 |  |  | $ | (3 | ) |  | $ | 699 |  |  | $ | (3 | )
Residential mortgage-backed securities | 3,436 |  |  | (27 | ) |  | 898 |  |  | (33 | ) |  | 4,334 |  |  | (60 | )
State and political subdivision debt securities | 1,865 |  |  | (29 | ) |  | 1,257 |  |  | (20 | ) |  | 3,122 |  |  | (49 | )
Corporate debt securities | 763 |  |  | (6 | ) |  | — |  |  | — |  |  | 763 |  |  | (6 | )
Marketable equity securities | 1,780 |  |  | (324 | ) |  | 152 |  |  | (88 | ) |  | 1,932 |  |  | (412 | )
| $ | 7,844 |  |  | $ | (386 | ) |  | $ | 3,006 |  |  | $ | (144 | ) |  | $ | 10,850 |  |  | $ | (530 | )
Based on the Company's ability and intent to hold the investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider any investments to be other-than-temporarily impaired at December 31, 2016. As of December 31, 2016, the Company's investments in marketable equity securities consist of investments in common stock of industrial and other companies ($8.9 million of the total fair value and $133,000 of the total unrealized losses). As of April 2, 2016, the Company's investments in marketable equity securities consisted of investments in common stock of industrial and other companies ($7.7 million of the total fair value and $409,000 of the total unrealized losses) and bank trust, insurance and public utility companies ($100,000 of the total fair value and $3,000 of the total unrealized losses). The amortized cost and fair value of the Company's investments in debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
| December 31, 2016
| Amortized Cost |  | Fair Value
Due in less than one year | $ | 2,276 |  |  | $ | 2,261 |
Due after one year through five years | 3,772 |  |  | 3,729 |
Due after five years through ten years | 3,244 |  |  | 3,137 |
Due after ten years | 6,129 |  |  | 6,201 |
| $ | 15,421 |  |  | $ | 15,328 |
Realized gains and losses from the sale of securities are determined using the specific identification method. Gross gains realized on the sales of investment securities for the three and nine months ended December 31, 2016 were approximately $386,000 and $1.0 million, respectively. Gross losses realized were approximately $46,000 and $303,000 for the three and nine months ended December 31, 2016, respectively. Gross gains realized on the sales of investment securities for the three and nine months ended December 26, 2015 were approximately $74,000 and $305,000, respectively. Gross losses realized were approximately $51,000 and $163,000 for the three and nine months ended December 26, 2015.
Schedule of Investments [Table Text Block] | Investments consist of the following (in thousands):
| December 31, 2016 |  | April 2, 2016
Available-for-sale investment securities | $ | 25,236 |  |  | $ | 24,247 |
Non-marketable equity investments | 15,788 |  |  | 14,841 |
| $ | 41,024 |  |  | $ | 39,088 |
Available-for-Sale Securities by Investment Category | The following tables summarize the Company's available-for-sale investment securities, gross unrealized gains and losses and fair value, aggregated by investment category (in thousands):
| December 31, 2016
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Treasury and government debt securities | $ | 650 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 649 |
Residential mortgage-backed securities | 5,859 |  |  | 5 |  |  | (90 | ) |  | 5,774 |
State and political subdivision debt securities | 7,209 |  |  | 139 |  |  | (120 | ) |  | 7,228 |
Corporate debt securities | 1,703 |  |  | 3 |  |  | (29 | ) |  | 1,677 |
Marketable equity securities | 4,995 |  |  | 4,046 |  |  | (133 | ) |  | 8,908 |
Certificates of deposit | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
| $ | 21,416 |  |  | $ | 4,193 |  |  | $ | (373 | ) |  | $ | 25,236 |
| April 2, 2016
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Treasury and government debt securities | $ | 1,002 |  |  | $ | — |  |  | $ | (3 | ) |  | $ | 999 |
Residential mortgage-backed securities | 5,866 |  |  | 13 |  |  | (60 | ) |  | 5,819 |
State and political subdivision debt securities | 7,231 |  |  | 239 |  |  | (49 | ) |  | 7,421 |
Corporate debt securities | 1,166 |  |  | 4 |  |  | (6 | ) |  | 1,164 |
Marketable equity securities | 5,882 |  |  | 2,374 |  |  | (412 | ) |  | 7,844 |
Certificates of deposit | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
| $ | 22,147 |  |  | $ | 2,630 |  |  | $ | (530 | ) |  | $ | 24,247 |
Investment Securities in a Continuous Unrealized Loss Position | The following tables show the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
| December 31, 2016
| Less than 12 Months |  | 12 Months or Longer |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury and government debt securities | $ | 349 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 349 |  |  | $ | (1 | )
Residential mortgage-backed securities | 3,660 |  |  | (47 | ) |  | 1,570 |  |  | (43 | ) |  | 5,230 |  |  | (90 | )
State and political subdivision debt securities | 2,657 |  |  | (41 | ) |  | 2,092 |  |  | (79 | ) |  | 4,749 |  |  | (120 | )
Corporate debt securities | 1,422 |  |  | (29 | ) |  | — |  |  | — |  |  | 1,422 |  |  | (29 | )
Marketable equity securities | 792 |  |  | (65 | ) |  | 304 |  |  | (68 | ) |  | 1,096 |  |  | (133 | )
| $ | 8,880 |  |  | $ | (183 | ) |  | $ | 3,966 |  |  | $ | (190 | ) |  | $ | 12,846 |  |  | $ | (373 | )
| April 2, 2016
| Less than 12 Months |  | 12 Months or Longer |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury and government debt securities | $ | — |  |  | $ | — |  |  | $ | 699 |  |  | $ | (3 | ) |  | $ | 699 |  |  | $ | (3 | )
Residential mortgage-backed securities | 3,436 |  |  | (27 | ) |  | 898 |  |  | (33 | ) |  | 4,334 |  |  | (60 | )
State and political subdivision debt securities | 1,865 |  |  | (29 | ) |  | 1,257 |  |  | (20 | ) |  | 3,122 |  |  | (49 | )
Corporate debt securities | 763 |  |  | (6 | ) |  | — |  |  | — |  |  | 763 |  |  | (6 | )
Marketable equity securities | 1,780 |  |  | (324 | ) |  | 152 |  |  | (88 | ) |  | 1,932 |  |  | (412 | )
| $ | 7,844 |  |  | $ | (386 | ) |  | $ | 3,006 |  |  | $ | (144 | ) |  | $ | 10,850 |  |  | $ | (530 | )
Contractual Maturity of Investment Securities | The amortized cost and fair value of the Company's investments in debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
| December 31, 2016
| Amortized Cost |  | Fair Value
Due in less than one year | $ | 2,276 |  |  | $ | 2,261 |
Due after one year through five years | 3,772 |  |  | 3,729 |
Due after five years through ten years | 3,244 |  |  | 3,137 |
Due after ten years | 6,129 |  |  | 6,201 |
| $ | 15,421 |  |  | $ | 15,328 |

X
- Definition Schedule of Investments [Table Text Block] + References No definition available. + Details
Name: | cvco_ScheduleofInvestmentsTableTextBlock
Namespace Prefix: | cvco_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27405-111563 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration